{"id":5095,"date":"2023-02-28T13:01:26","date_gmt":"2023-02-28T13:01:26","guid":{"rendered":"https:\/\/authorityarrow.com\/?p=5095"},"modified":"2023-02-28T13:01:30","modified_gmt":"2023-02-28T13:01:30","slug":"medicare-supplement-plans","status":"publish","type":"post","link":"https:\/\/authorityarrow.com\/medicare-supplement-plans\/","title":{"rendered":"Medicare Supplement Plans: The Advantages and Disadvantages"},"content":{"rendered":"\n<p>Medicare Supplement plans enhance the coverage offered by Original Medicare. They can reduce out-of-pocket medical expenses by covering the costs the original plan doesn&#8217;t cover. <\/p>\n\n\n\n<p>Understanding the pros and cons of these plans can help you make an informed decision on whether they&#8217;re worth purchasing.\u00a0<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_47_1 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"ez-toc-toggle-icon-1\"><label for=\"item-670272357050b\" aria-label=\"Table of Content\"><span style=\"display: flex;align-items: center;width: 35px;height: 30px;justify-content: center;direction:ltr;\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/label><input  type=\"checkbox\" id=\"item-670272357050b\"><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/authorityarrow.com\/medicare-supplement-plans\/#Advantages_of_a_Medicare_Supplement_Plan\" title=\"Advantages of a Medicare Supplement Plan:\u00a0\">Advantages of a Medicare Supplement Plan:\u00a0<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/authorityarrow.com\/medicare-supplement-plans\/#Cover_Out-of-Pocket_Costs\" title=\"Cover Out-of-Pocket Costs:\u00a0\">Cover Out-of-Pocket Costs:\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/authorityarrow.com\/medicare-supplement-plans\/#Large_Provider_Network\" title=\"Large Provider Network:\">Large Provider Network:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/authorityarrow.com\/medicare-supplement-plans\/#Open_Enrollment\" title=\"Open Enrollment:\u00a0\">Open Enrollment:\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/authorityarrow.com\/medicare-supplement-plans\/#Predictable_Premiums\" title=\"Predictable Premiums:\u00a0\">Predictable Premiums:\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/authorityarrow.com\/medicare-supplement-plans\/#Standardized_Renewable_Coverage\" title=\"Standardized &amp; Renewable Coverage\u00a0\">Standardized &amp; Renewable Coverage\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/authorityarrow.com\/medicare-supplement-plans\/#Additional_Services\" title=\"Additional Services\u00a0\">Additional Services\u00a0<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/authorityarrow.com\/medicare-supplement-plans\/#Disadvantages_of_Medigap_Plans\" title=\"Disadvantages of Medigap Plans\">Disadvantages of Medigap Plans<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/authorityarrow.com\/medicare-supplement-plans\/#Selective_Approval\" title=\"Selective Approval&nbsp;\">Selective Approval&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/authorityarrow.com\/medicare-supplement-plans\/#High_Premiums\" title=\"High Premiums&nbsp;\">High Premiums&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/authorityarrow.com\/medicare-supplement-plans\/#Limited_Benefits\" title=\"Limited Benefits&nbsp;\">Limited Benefits&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/authorityarrow.com\/medicare-supplement-plans\/#Complicated_Options\" title=\"Complicated Options&nbsp;\">Complicated Options&nbsp;<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/authorityarrow.com\/medicare-supplement-plans\/#Find_Medicare_Supplement_Plans_Today\" title=\"Find Medicare Supplement Plans Today&nbsp;\">Find Medicare Supplement Plans Today&nbsp;<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Advantages_of_a_Medicare_Supplement_Plan\"><\/span><strong>Advantages of a Medicare Supplement Plan:\u00a0<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Cover_Out-of-Pocket_Costs\"><\/span><strong>Cover Out-of-Pocket Costs:\u00a0<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Original Medicare has costs like deductibles, copayments, and coinsurance that can substantially increase your healthcare expenses. <\/p>\n\n\n\n<p>Medicare deductibles are standard, but copayments and coinsurance rates can vary depending on the length of a hospital stay and your total healthcare costs. <\/p>\n\n\n\n<p>Without a supplement plan, a serious injury or illness that requires prolonged care can result in bills that you are responsible for paying.<\/p>\n\n\n\n<p>A Medigap policy can reduce or eliminate these out-of-pocket costs depending on your chosen plan. Plans A, B, C, D, G, K, M, and N can reduce your costs substantially. <\/p>\n\n\n\n<p>Plan F has the highest coverage and can eliminate your costs entirely, but might have more expensive monthly premiums. <\/p>\n\n\n\n<p>People who became eligible for Medicare after<a href=\"https:\/\/www.medicare.gov\/supplements-other-insurance\/whats-medicare-supplement-insurance-medigap\" target=\"_blank\" rel=\"noreferrer noopener\">\u00a02020<\/a>\u00a0can benefit the most from Plan G because they won&#8217;t be eligible for Plan F. <\/p>\n\n\n\n<p>The annual Part B deductible of $226 in 2023 is the only out-of-pocket payment you&#8217;ll be expected to make if you choose Plan G.\u00a0<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Large_Provider_Network\"><\/span><strong>Large Provider Network:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>You can use your Medigap policy to visit any medical professional that accepts Medicare. Over 90% of medical professionals in the United States accept Medicare, so you don&#8217;t have to settle. <\/p>\n\n\n\n<p>Some Medicare Advantage plans have a limited healthcare network, restricting their clients to only a few medical professionals, or charging more for seeking care outside the network. <\/p>\n\n\n\n<p>Individuals with Medicare Advantage plans should seek prior authorization when seeing specialists outside their networks.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Open_Enrollment\"><\/span><strong>Open Enrollment:\u00a0<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><a href=\"https:\/\/fairsquaremedicare.com\/best-medicare-supplement\/new-york\" target=\"_blank\" rel=\"noreferrer noopener\">Medicare Supplement plans<\/a>\u00a0have a six-month open enrollment period. During this period, an insurer can&#8217;t reject or deny your application. <\/p>\n\n\n\n<p>The open enrollment period begins when you turn 65 and enroll for Medicare Part B. This means you can qualify for a Medigap policy regardless of your health status. <\/p>\n\n\n\n<p>If you wait to enroll, depending on your situation, you might need to go through medical underwriting to get a Medigap plan.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Predictable_Premiums\"><\/span><strong>Predictable Premiums:\u00a0<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>With Medigap policies, insurers inform clients of their monthly premiums in advance. With Original Medicare alone, you may not be sure what your medical expenses will be, as out-of-pocket costs vary with the type of treatments received.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Standardized_Renewable_Coverage\"><\/span><strong>Standardized &amp; Renewable Coverage\u00a0<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>All Medigap plans are standardized by the U.S. government. They offer the same coverage to recipients in all 50 states. Medigap plans are also guaranteed renewable. <\/p>\n\n\n\n<p>Insurers can&#8217;t cancel your policy if you use it too much or if your health deteriorates. Your medical needs will be covered as long as you pay your monthly premiums on time.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Additional_Services\"><\/span><strong>Additional Services\u00a0<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>A Medicare Supplement Insurance plan can pay for healthcare received outside of the U.S. in some situations. International care is something Original Medicare doesn&#8217;t cover. <\/p>\n\n\n\n<p>If you&#8217;re a frequent traveler, consider buying a Medicare Supplement plan that\u00a0 can cover up to 80% of foreign medical care costs within their individual plan limits.\u00a0<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Disadvantages_of_Medigap_Plans\"><\/span><strong>Disadvantages of Medigap Plans<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Selective_Approval\"><\/span>Selective Approval&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Insurance companies aren&#8217;t obligated to approve applications made after an individual&#8217;s open enrollment period. This means your application could be subject to medical underwriting. <\/p>\n\n\n\n<p>Your insurer can reject or deny the application based on your current health condition, medical history, and age. You can avoid this by applying for Medigap during your open enrollment period.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"High_Premiums\"><\/span>High Premiums&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Medigap policies are offered by private insurers, so they can charge a high premium amount if they view you as a high-risk client. You can avoid this by applying during the open enrollment period. Insurers can&#8217;t charge you more because of your health issues during this time.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Limited_Benefits\"><\/span>Limited Benefits&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>While Medigap Plans can help cover some of Original Medicare&#8217;s out-of-pocket costs, they do not cover everything. For example, some plans don&#8217;t offer prescription drug coverage. If you want your prescriptions covered, you&#8217;ll need to enroll in a Medicare Part D plan. No Medigap plans provide dental or vision benefits.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Complicated_Options\"><\/span>Complicated Options&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>It may be difficult to understand Medigap because Plans A to N offer varying degrees of coverage. For example, Plan A offers basic coverage and covers fewer medical expenses than more comprehensive options like Plan F, G, and N. For a simple way to look at it, generally speaking, you\u2019ll want to go with Plan G. But everyone\u2019s situation is different. Find a reputable Medicare agent to help you understand which plan is best for you.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Find_Medicare_Supplement_Plans_Today\"><\/span>Find Medicare Supplement Plans Today&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The advantages of Medicare Supplement plans outweigh their disadvantages. Apply for a plan during your open enrollment period and seek the help of a licensed Medicare agent. These plans can help you save money and secure your right to healthcare services from a wide network of medical professionals.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Medicare Supplement plans enhance the coverage offered by Original Medicare. They can reduce out-of-pocket medical expenses by covering the costs the original plan doesn&#8217;t cover. Understanding the pros and cons of these plans can help you make an informed decision on whether they&#8217;re worth purchasing.\u00a0 Advantages of a Medicare Supplement Plan:\u00a0 Cover Out-of-Pocket Costs:\u00a0 Original [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":5097,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-5095","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tech"],"_links":{"self":[{"href":"https:\/\/authorityarrow.com\/wp-json\/wp\/v2\/posts\/5095"}],"collection":[{"href":"https:\/\/authorityarrow.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/authorityarrow.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/authorityarrow.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/authorityarrow.com\/wp-json\/wp\/v2\/comments?post=5095"}],"version-history":[{"count":0,"href":"https:\/\/authorityarrow.com\/wp-json\/wp\/v2\/posts\/5095\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/authorityarrow.com\/wp-json\/wp\/v2\/media\/5097"}],"wp:attachment":[{"href":"https:\/\/authorityarrow.com\/wp-json\/wp\/v2\/media?parent=5095"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/authorityarrow.com\/wp-json\/wp\/v2\/categories?post=5095"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/authorityarrow.com\/wp-json\/wp\/v2\/tags?post=5095"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}